While everyone can see how you suffer from physical illness, no one will even know that you have mental health issues. The stigma surrounding this issue may also stop you from seeking help immediately. Many insurance providers, like ACKO Insurance now offer coverage for mental health issues with a support system of hospital networks and doctors. Let’s discuss how your medical insurance can help with your mental wellness journey.
Mental Health Care and Insurance
After the Mental Healthcare Act (MHCA) 2017, mental disorders are treated similarly to physical disorders. In 2018, IRDAI directed the insurance companies to offer coverage for mental disorders. In 2020, Indian insurance companies started including mental health coverage. The PM-JAY Ayushman Bharat provides coverage such as hospitalisation expenses for mental disorders like schizophrenia, schizotypal, mental retardation, neutronic issues, delusion disorders, stress-related, mood-related, and other types of behavioural syndrome. Many private insurance providers also cover counselling and consultation costs and hospitalisation expenses.
Impact of Insurance Coverage and Mental Health
When mental health is prioritised as much as physical health by the insurance companies, it has the following impact on the society:
- Normalising mental health – The main reason people fail to seek support for mental health is the stigma associated with it. When you can make claims for treating mental health issues, it normalises the psychological disorders and allows society to destigmatise the problems. Also, those who seek mental health support need not worry about financial repercussions.
- Accessible infrastructure – When insurance companies include mental health care, the network hospitals improve their infrastructure to support necessary mental health treatments. This makes professional help easily accessible for anyone who needs it. It allows individuals to prioritise their mental health.
- Cost-effective care: Mental health treatments, from therapy sessions to medications, are expensive. The time away from work to work on these mental health issues should also be considered. Insurance coverage can alleviate financial burden, making treatments more affordable.
- Long-term benefits: Similar to physical disorders, seeking help early for mental health issues offers long-term benefits. Early intervention and consistent treatment lead to better outcomes, reducing the overall cost of care in the long run.
- Focus on holistic wellbeing: When you can effectively manage stress, it can also positively impact your physical health. Knowing that you have professional access and the right to claim for therapy, counselling, and medication enables you to address mental health issues positively. It also focuses on holistic wellbeing, improving overall quality of life.
Challenges in Mental Health Insurance
With an over 1.45 billion population, at least 10.6% of adults suffer from mental disorders, but there is a treatment gap of 70% to 92%. Even though mental health coverage is offered, the insurers often focus on issues that cover hospitalisation illnesses.
Often, mental health conditions are treated on an outpatient basis for several months. Patients spend anywhere from a few weeks to a few months when hospitalisation is needed. After discharge, mental health patients should be on medication long-term, which can add to the economic burden. Also, there is no standardisation for mental health, and individuals may have more than one diagnosis, depending on their healthcare provider.
The definition of mental illness and the corresponding waiting period must be clearly defined. Treatments include medication, psychotherapy, rehabilitation, and consoling, and the requirements vary from one person to another. So, insurance companies struggle with categorising mental illnesses as pre-existing conditions. For issues like schizophrenia, bipolar disorder, and recurrent depression, lifelong chronic therapy is needed. Including all these factors in underwriting is challenging.
Takeaway
India has a long way to go to standardise the diagnosis of mental health disorders and subsequent treatments. MHCA’s introduction and subsequent efforts from insurance companies now allow individuals to prioritise mental health and be supported financially.
Are mental health concerns holding you back? Check out ACKO medical insurance, as we understand the importance of holistic health.
